Connect with us

Telecom

MTN Mulls N3.50 Interim Dividend amid Drop in Profit

Published

on

Kindly share this post

Shareholders of MTN Nigeria Communications Plc will get the sum of N3.50 paid to them for each of the company’s stock in their possession.

MTN Mulls N3.50 Interim Dividend amid Drop in Profit

This is what the board of the telco is proposing to pay as an interim dividend for the half-year ended June 30, 2020.

This information was contained in the financial statements of the organisation submitted to the Nigerian Stock Exchange (NSE).

The interim dividend is subject to appropriate deduction of withholding tax and will be paid to shareholders whose names appear in the register of members as at the close of business on August 14, 2020, MTN Nigeria said.

Also, it stated that the register of members will be closed from August 17, 2020, while the cash reward would be paid electronically directly to bank accounts of shareholders on August 24, 2020.

Advertisement

In the period under review, MTN Nigeria increased its revenue by 12.5 per cent to N638.1 billion from N567.0 billion in the corresponding period of last year.

The 15.6 per cent growth in the mobile subscriber base of MTN Nigeria to 71.1 million provided support for the 2.8 per cent rise in the voice revenue, which contributed 67.9 per cent to the service revenue of N637.0 billion versus N565.9 billion in H1 2019.

Also, data revenue, which accounted for 24.2 per cent of the service turnover, grew in the period by 57.6 per cent to N154.1 billion from N97.8 billion in the first six months of 2019.

According to the telco, this significant increase in data consumption of its customers was achieved through improved 4G penetration and enhanced network capacity to support traffic growth due to the lockdown imposed on Lagos, Abuja and Ogun State in the most part of the second quarter of the year by the federal government.

In the period under review, 4.0 million new smartphones were added to MTN Nigeria network, bringing the smartphone penetration to 43.5 per cent on its base.

Advertisement

Also, in the first half of 2020, the digital revenue of MTN Nigeria continued to rise, with digital offerings recording a growth of 121.8 per cent and this was because of the uptake of its digital products and services.

In addition, fintech revenue recorded a growth of 29.6 per cent, driven by the airtime lender platform called MTN Xtratime as well as the agent network. The total number of transactions processed by its agents during the period was over 14.6 million.

For capital expenditure, there was a 20.9 per cent decline to N76.0 billion because of slower site rollout caused by port congestion, movement restriction and scarcity of foreign exchange.

Also, the pre-tax profit of MTN Nigeria dropped 2.0 per cent as a result of an increase in finance costs from higher borrowing. In the first half of the year, the company issued a N100 billion commercial paper at 5.74 per cent, allowing the firm to widen its sources of funding.

In addition, the post-tax profit and earnings per share (EPS) depreciated by 4.7 per cent respectively, reflecting an increase in taxation mainly due to lower investment allowance and exempt income.

Advertisement


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Telecom

Airtel Secures Another 10-year Spectrum Renewal in Nigeria 

Published

on

Kindly share this post

Airtel Nigeria has secured a fresh 10-year renewal of its spectrum licence from the Nigerian Communications Commission (NCC), reinforcing the telecom operator’s long-term commitment to expanding broadband connectivity and improving digital access across the country.

Airtel Secures Another 10-year Spectrum Renewal in Nigeria 

The renewed licence covers Airtel’s spectrum holdings, which are critical to the delivery of voice and high-speed data services, providing regulatory certainty for continued investments in network expansion, capacity upgrades and improved customer experience.

According to the company, the renewal underscores confidence in Nigeria’s telecommunications sector and will support its ongoing efforts to bridge the country’s digital divide by extending quality connectivity to more underserved communities.

Sunil Taldar, chief executive officer, Airtel Africa, said the renewal provides the company with the confidence to continue investing in Nigeria’s digital infrastructure.

He said, “The spectrum renewal reaffirms our long-term commitment to Nigeria, our largest market. It gives us the certainty required to continue investing in network expansion, improve service quality and accelerate digital inclusion for millions of Nigerians.”

Advertisement

Taldar added that Airtel remains focused on expanding broadband access and supporting Nigeria’s digital economy agenda through sustained investments in telecommunications infrastructure.

He further said, “We appreciate the Nigerian Communications Commission and the Federal Government for their continued support in creating an enabling environment for investment. We remain committed to delivering reliable and affordable connectivity while contributing to Nigeria’s socio-economic development.”

Meanwhile, Industry observers said the licence renewal removes regulatory uncertainty and allows Airtel to pursue long-term capital investments, including the expansion of 4G and 5G networks, as demand for mobile data and digital services continues to grow across Nigeria.

The renewal comes as telecom operators continue to invest heavily in broadband infrastructure to meet rising data consumption and support government efforts to achieve Universal digital access.

Furthermore, It also aligns with the NCC’s objective of ensuring efficient spectrum management while encouraging sustained private sector investment in the country’s telecommunications industry.

Advertisement

Kindly share this post
Continue Reading

Telecom

GSMA Supports Abuja Declaration on Meaningful Connectivity for Africa, Joins Partners to Launch ATLAS Umoja

Published

on

Kindly share this post

The GSMA supports the Abuja Ministerial Declaration on Meaningful Connectivity for Africa by Ministers and Heads of Delegation at the African Telecommunications Union (ATU) Conference of Plenipotentiaries (CPL-2026), describing it as an important milestone in strengthening Africa’s digital future through evidence-based policy, investment and regional collaboration.

The Declaration commits African governments to advancing policies that promote meaningful connectivity, digital inclusion, technology-neutral regulation, resilient digital infrastructure and locally relevant digital services. It also reinforces the importance of collaboration between governments, industry and development partners to close the continent’s connectivity and usage gaps.

Throughout the conference, the GSMA has worked alongside governments, regulators and industry leaders to support these shared ambitions through practical policy engagement, evidence-based research and new collaborative initiatives designed to accelerate Africa’s digital transformation.

Speaking during the ATU-GSMA African ICT Regulatory Leaders’ Forum, policymakers and regulators explored how stronger evidence-based regulation, greater regulatory harmonisation and future-ready policy frameworks can create an enabling environment for investment, innovation and sustainable digital growth across Africa. Drawing insights from the GSMA’s Digital Africa Index, participants also examined future-ready approaches to satellite regulation, highlighting how technology-neutral licensing frameworks can support innovation while extending connectivity to underserved communities.

Caroline Mbugua, Senior Director, Public Policy, Africa, GSMA, said: “The Abuja Ministerial Declaration sends an important signal that African governments share a common vision for delivering meaningful connectivity through modern, evidence-based and investment-friendly policy. Its emphasis on digital inclusion, technology-neutral regulation, resilient infrastructure and stronger regional collaboration reflects the practical policy foundations needed to accelerate Africa’s digital transformation.”

Advertisement

Launching ATLAS Umoja AI

Supporting the ambitions set out in the Abuja Declaration, the GSMA, Nigeria’s Ministry of Communications, Innovation and Digital Economy, Togo’s Ministry of Digital Economy and Transformation, Kenya’s Ministry of information, Communications and the Digital Economy, Namibia’s Ministry of Information and Communication Technology, Benin’s Ministry of Digital Transformation and Innovation, Awarri, Zindi, Pawa AI and Mozisha today announced ATLAS Umoja AI –a new pan-African initiative to strengthen collaboration on African language AI.

Designed to complement national AI programmes, ATLAS Umoja will bring together governments, industry and researchers to share expertise, datasets and best practice, helping develop trusted, scalable AI that better reflects Africa’s languages, cultures and development priorities. The initiative aims to accelerate innovation, attract investment and scale African language AI across the continent.

The launch builds on the momentum of the newly established AI for Good Global Commission. Ministers from Nigeria, Namibia and Togo, who serve on the Commission, have committed to support Africa Umoja, demonstrating how African leaders are turning global ambitions for trusted and inclusive AI into practical regional collaboration.

Angela Wamola, Head of Africa, GSMA, said: “Africa’s AI future must reflect Africa’s own languages, communities and development priorities. ATLAS Umoja brings together governments, industry, researchers and innovators to build African language AI at scale. By making AI and digital services available in the languages people speak every day, the initiative will help tackle two of the biggest barriers to internet adoption – digital literacy and locally relevant content – supporting efforts to close Africa’s usage gap and expand meaningful connectivity across the continent.”

Advertisement

Dr. Bosun Tijani, Honourable Minister of Communications, Innovation and Digital Economy of Nigeria said:“Artificial Intelligence will be a defining technology for Africa’s future, but its benefits must be built on our own languages, cultures and knowledge systems. Nigeria is proud to have taken the first step through N-ATLAS and is equally proud to see that vision evolve into the continental ATLAS Umoja AI.

“By working together with governments, researchers and ecosystem partners across Africa, we can build AI that is more inclusive, locally relevant and accessible to millions of people, while strengthening Africa’s digital sovereignty and creating new opportunities for innovation, education and economic growth.”

Silas Adekunle, Founder & CEO, Awarri added: “Awarri is proud to support The ATLAS Umoja AI and contribute lessons from N-ATLAS, which has demonstrated what is possible when African language data, local technical talent and practical AI applications are brought together. This is an important opportunity to help build AI systems that work for African languages and communities.”

Celina Lee, CEO & Co-Founder, Zindi concluded: “Africa’s AI future will be built by the people who best understand its languages, cultures and communities. Through ATLAS Umoja AI, we have an opportunity to empower local researchers, data scientists and developers to solve meaningful challenges, strengthen national AI capabilities and ensure African language AI is developed by Africans, for Africans.”

Alongside the launch of ATLAS Umoja AI, the GSMA continued discussions with policymakers at the ATU Conference on future-ready regulatory frameworks, including satellite connectivity, spectrum policy and technology-neutral licensing.

Advertisement

Drawing on the GSMA Satellite Regulatory Playbook, discussions explored how modern regulation can encourage investment, expand meaningful connectivity and support the ambitions of the Abuja Declaration.

Together, the Abuja Declaration, ATLAS Umoja and continued collaboration between governments, regulators and industry represent an important step towards expanding meaningful connectivity, accelerating digital inclusion and supporting Africa’s digital transformation.

 

Kindly share this post
Continue Reading

Telecom

MTN Nigeria Warns Customers Against Fake ‘One Month Free Data’ Promotion

Published

on

Kindly share this post

MTN Nigeria has warned its customers to disregard fraudulent online posts claiming the telecommunications company is offering “One Month Free Data for Old Subscribers.”

MTN Nigeria Warns Customers Against Fake 'One Month Free Data' Promotion

MTN

The company described the promotion as fake, stressing that it has no affiliation with the individuals or websites circulating the offer.

In a disclaimer issued to customers, MTN advised subscribers not to click on suspicious links or disclose their phone numbers, personal information or other sensitive details on third-party websites.

The company emphasised that it would never require customers to submit personal information on external platforms to claim data bonuses, rewards or promotional offers.

“Beware of fraudulent posts claiming that MTN Nigeria is offering ‘1 Month Free Data for Old Subscribers.’ This promotion is not from MTN and has no affiliation with us,” the company stated.

Screenshot

MTN urged customers to verify all promotional offers through its official communication channels before participating.

According to the company, all authentic promotions, products and services are announced only through its official website, verified social media platforms and the *180# shortcode.

Advertisement

The telecommunications operator advised customers to remain vigilant against online scams and avoid sharing confidential information with unauthorised persons or websites.

It reiterated its commitment to protecting customers from fraud while encouraging subscribers to rely solely on official MTN communication channels for accurate information.

Kindly share this post
Continue Reading

Trending